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Former President Trump leaves Trump Tower in Manhattan, New York City, on Tuesday. Photo: James Devaney/GC Images

The New York attorney general's office said Tuesday night it has informed the Trump Organization that its investigation into the company "is no longer purely civil in nature" and is now also a criminal one.

Why it matters: The attorney general's office is now working with the Manhattan district attorney's office, which has been investigating the Trump Organization for potential bank, tax and insurance fraud.

Driving the news: New York Attorney General Letitia James (D) announced in 2019 that her office was investigating Trump Organization finances.

  • Her office filed a lawsuit last August to compel the organization to comply with subpoenas for an investigation into whether former President Trump and his company improperly inflated the value of its assets on financial statements.
  • Fabien Levy, a spokesperson for James, said in an emailed statement Tuesday: "We are now actively investigating the Trump Organization in a criminal capacity, along with the Manhattan DA." Levy declined to comment further.

What they're saying: Representatives for the Trump Organization did not immediately respond to Axios' request for comment on the news, first reported by CNN.

The latest: Former President Trump said in a statement Wednesday, "These investigations have also been going on for years with members and associates of the Trump Organization being viciously attacked, harassed, and threatened, in order to say anything bad about the 45th President of the United States."

  • "This would include having to make up false stories," he claimed without providing evidence.
  • "Numerous documents, all prepared by large and prestigious law and accounting firms, have been examined, and many hours of testimony have been taken from many people, some of whom I have not seen in years."

Editor's note: This article has been updated with new details throughout.

Go deeper

Report: Trump has been receiving presidential pension payments since January

Photo: Joe Raedle/Getty Images

Former President Trump has received $65,600 in pension payments since leaving office in January, Business Insider reported Monday, citing a General Services Administration spokesperson.

Why it matters: As part of a campaign promise, during his presidency Trump stuck to his vow not to accept a taxpayer-funded salary while in office, instead sometimes donating it to services such as the National Park Service.

Andrew Giuliani announces run for New York governor

Andrew Giuliani during a press conference in New York City on May 18. Photo: Lev Radin/Pacific Press/LightRocket via Getty Images

Andrew Giuliani, the son of former New York City Mayor Rudy Giuliani, announced Tuesday that he is seeking the Republican nomination for governor of New York in 2022, according to NBC News.

Why it matters: Giuliani could face New York Gov. Andrew Cuomo in a general election. Cuomo is expected to run for reelection despite facing an impeachment investigation stemming from multiple sexual misconduct allegations, and a federal probe into his handling of the coronavirus pandemic in nursing homes.

Joe Biden releases his 2020 tax return

President Biden in the East Room of the White House on Monday. Photo: Nicholas Kamm/AFP via Getty Images

President Biden released his 2020 tax return on Monday, showing that he and first lady Jill Biden earned just over $600,000, with an effective federal income tax rate of 25.9% after 5% in charitable donations.

Why it matters: The release revives a decades-old tradition of the president releasing their tax returns after former President Trump refused to do so.